Pathfinder Minerals Plc Directorate Change (4798S)

TIDMPFP

RNS Number : 4798S

Pathfinder Minerals Plc

17 March 2021

17 March 2021

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Board Changes

Pathfinder is pleased to announce the appointment of Mr Jonathan Summers as an independent Non-Executive Director with immediate effect.

Mr Summers brings over 25 years of international business experience. He is a former Managing Director at Goldman Sachs, mainly in Europe, having spent 15 years at the firm from 1996 to 2011. He was Founding Partner and Head of Business Development for Everett Capital Advisors, a US$700 million London-based investment fund, and Founding Principal and Head of Business Development for Myriad Asset Management, a US$5 billion Hong Kong-based multi-strategy asset management firm. An active private investor in several fast-growing technology companies, Mr Summers is currently the chairman of EXMceuticals Inc., a Canadian-listed medical cannabis company, as well as on the advisory board for Mocha Holdings LLC, a privacy-focused ecommerce business. Mr Summers holds a master's degree in Modern History (1st class) from the University of Oxford.

At the Board's request and to enable the Company to conserve resources in the near to medium term, Mr Summers has agreed to waive any salary for the first 12 months of his appointment.

The Board has awarded to Mr Summers options over 6,000,000 ordinary shares of the Company at 0.55 pence per ordinary share, exercisable for a period of two years from date of issue. Options over a further 6,000,000 ordinary shares of the Company will be granted to Mr Summers, exercisable at a price of 1.25p, subject to shareholders of the Company granting the directors the necessary authorities. If the resolutions are passed at the forthcoming general meeting of the Company to be held on 29 March 2021, the 1.25p options will be granted as soon as reasonably practicable thereafter.

Further to Jonathan's appointment, the Company announces that Mr John Taylor has stepped down as a Non-Executive Director of the Company with immediate effect. Mr Taylor has confirmed to the Company that he continues to intend to vote in favour of each of the resolutions at the Company's forthcoming general meeting.

Further disclosures in relation to the appointment of Mr Summers as required under AIM Rule 17 and Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are included in the appendix below.

Dennis Edmonds, Chairman of Pathfinder, commented:

"I am delighted to welcome Jonathan Summers to the Board. His significant business experience will be beneficial to Pathfinder as we move into a new chapter of assessing additional opportunities for value creation, while continuing to advance our valuable Bilateral Investment Treaty claim.

I would like to thank John Taylor for his contribution, both as Chief Executive Officer and latterly as a Non-Executive Director."

Enquiries:

Pathfinder Minerals Plc

Peter Taylor, Chief Executive Officer

Tel. [phone]

Strand Hanson Limited (Nominated & Financial Adviser)

James Spinney / Ritchie Balmer / Jack Botros

Tel. [phone]

Vigo Communications (Public Relations)

Ben Simons / Simon Woods

Tel. [phone]

Email. [e-mail]

Novum Securities Limited (Corporate Broker)

Colin Rowbury / Jon Belliss

Tel. [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations No. 596/2014 ("MAR").

Appendix - Appointment of Jonathan Summers

As required under AIM Rule 17, Jonathan William Summers (aged 49) has held the following directorships and/or partnerships in the past five years:

 
 Current Directorships/Partnerships   Past Directorships/Partnerships (within 
                                       last 5 years) 
 Emoji Investments Limited            Everett Capital Advisors UK LLP 
                                     ---------------------------------------- 
 EXMceuticals Inc.                    Peakpath Ventures Ltd 
                                     ---------------------------------------- 
 Alicorn IV (KNF I) LLP               Soho Ventures LLP 
                                     ---------------------------------------- 
 Cobalt Data Centre 2 LLP             Twofold First Services LLP 
                                     ---------------------------------------- 
 The Gala Film Partners, 
  LLP                                 YPL Fenny Compton Ltd 
                                     ---------------------------------------- 
                                      EXM Management Limited 
                                     ---------------------------------------- 
 

There is no further information to be disclosed in relation to Mr Summers' appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOADZGMFRVNGMZM

(END) Dow Jones Newswires

March 17, 2021 03:00 ET (07:00 GMT)